a list of problems

i will give a 2 day due date because they may take a while

but if you can get it done before that i will leave a tip

2. Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2015, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2015, follow. Additional Information Items a. b. c. d. e. An analysis of WTI's insurance policies shows that $3,071 of coverage has expired. An inventory count shows that teaching supplies costing $2,662 are available at year-end 2015. Annual depreciation on the equipment is $12,285. Annual depreciation on the professional library is $6,142. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,400, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2016. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $3,640 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) g. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2015 Debit $ 26,491 0 10,187 15,284 2,039 30,565 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation Professional library Equipment Accumulated depreciation Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends Tuition fees earned Training fees earned Depreciation expense Professional library Depreciation expenseEquipment Salaries expense Insurance expense Rent expense Teaching supplies expense Credit $ 9,171 71,305 16,303 35,885 0 12,000 12,960 51,840 40,755 103,924 38,717 0 0 48,907 0 22,429 0 Advertising expense Utilities expense Totals 7,132 5,706 $ 280,800 $ 280,800 Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end. 3. Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts. Cash Equipment Accounts Recievable Accumulated Depreciation-Equipment Teaching Supplies Accounts Payable Prepaid Insurance Salaries Payable Prepaid Rent Unearned Training Fees Professional Library Common stock Accumulated Depreciated- professional library Retained earnigns Tuition fees earnd Dividends Training fees earned Rent expense Depreciation expense- preofessional library Teaching supplies expense Depreaciation expense- equipment Advertising expense Salaries expense Utilities expense Insurance expense Prepare an adjusted trial balance Cash Equipment Accounts Recievable Accumulated Depreciation-Equipment Teaching Supplies Accounts Payable Prepaid Insurance Salaries Payable Prepaid Rent Unearned Training Fees Professional Library Common stock Accumulated Depreciated- professional library Retained earnigns Tuition fees earnd Dividends Training fees earned Rent expense Depreciation expense- preofessional library Teaching supplies expense Depreaciation expense- equipment Advertising expense Salaries expense Utilities expense Insurance expense 4. Prepare Wells Technical Institute's income statement for the year 2015. Prepare Wells Technical Institute's statement of retained earnings for the year 2015. Prepare Wells Technical Institute's balance sheet as of December 31, 2015. 5. cash 97560 97560 accounts recievable 14000 19500 office supplies 17800 8000 prepaid insurance 9940 2960 office equipment 87000 87000 Accum Depreciation - office equip 24000 28000 Accounts payable 9100 24000 Intrest payable 0 2000 Salaries payable 0 11000 Unearned consulting fees 30000 14000 Long term notes payable 48000 48000 Common stock 10800 10800 Retained earnings 43200 43200 Dividends 6000 6000 Consulting fees earned 163000 184500 Depreciation expense- office equip 0 Salaries expense 67610 78610 Intrest expense 1250 3250 Insurance expense 0 6980 Rent expense 14580 14580 Office supplies expense 0 9800 Advertising expense 12360 27260 Totals 328100 328100 4000 365500 365500 Analyze the differences between the unadjusted and adjusted trial balances to determine the adjustments that likely were made. Show the results of your analysis by entering these adjustment amounts in the cells provided. 6. Prepare JKL Company's income statement for the year ended July 31, 2015. Prepare JKL Company's statement of owner's equity for the year ended July 31, 2015. (Note:Retained Earnings at July 31, 2014, was $43,200, and the current-year dividends were $6,000.) Prepare JKL Company's balance sheet as of July 31, 2015. 7. The adjusted trial balance for Chiara Company as of December 31, 2015, follows. Debit Credit Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation Automobiles Equipment Accumulated depreciation Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Retained earnings Dividends Fees earned Interest earned Depreciation expense Automobiles Depreciation expenseEquipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expenseAutomobiles Totals $ 120,600 54,500 21,000 170,500 16,500 169,000 $ 142,000 25,000 88,000 93,000 45,000 20,000 38,000 148,000 55,160 220,640 52,000 524,000 30,000 28,000 18,500 189,000 45,000 37,400 33,200 61,000 27,600 $ 1,273,800 Prepare the income statement for the year ended December 31, 2015. Prepare the statement of owner's equity for the year ended December 31, 2015. Prepare Chiara Company's balance sheet as of December 31, 2015. 8. Calculate the profit margin for year 2015. 75,000 $ 1,273,800 Choose numerator / choose denimoninator = profit margin -------------/------------------= -----------------/--------------------= 9. On April 1, 2015, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's firs month. April 1 2 3 10 14 24 28 29 30 30 Nozomi invested $33,000 cash and computer equipment worth $20,000 in the company in exchange for common stock. The company rented furnished office space by paying $1,700 cash for the first month's (April) rent. The company purchased $1,800 of office supplies for cash. The company paid $2,300 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. The company paid $1,200 cash for two weeks' salaries earned by employees. The company collected $8,000 cash on commissions from airlines on tickets obtained for customers. The company paid $1,200 cash for two weeks' salaries earned by employees. The company paid $500 cash for minor repairs to the company's computer. The company paid $1,550 cash for this month's telephone bill. The company paid $2,400 cash in dividends. The company's chart of accounts follows: 101 106 124 128 167 168 209 307 318 319 Cash Accounts Receivable Office Supplies Prepaid Insurance Computer Equipment Accumulated DepreciationComputer Equip. Salaries Payable Common Stock Retained Earnings Dividends 405 612 622 637 640 650 684 688 901 Commissions Earned Depreciation ExpenseComputer Equip. Salaries Expense Insurance Expense Rent Expense Office Supplies Expense Repairs Expense Telephone Expense Income Summary Use the following information in Part 4: a. b. c. d. e. 1. Two-thirds (or $128) of one month's insurance coverage has expired. At the end of the month, $600 of office supplies are still available. This month's depreciation on the computer equipment is $600. Employees earned $410 of unpaid and unrecorded salaries as of month-end. The company earned $1,700 of commissions that are not yet billed at month-end. The general ledger and all the necessary accounts are provided in Part 6.2. Post all journal entries, adjusting entries and closing entries ledger given in Part 6.2 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Part 6.2. The company records prepa items in balance sheet accounts. 10. 3.Using account balances from part 6.2, prepare an unadjusted trial balance as of April 30. 11. 4. Journalize the adjusting entries for the month and prepare the adjusted trial balance. (Do not round intermediate 12. Prepare the income statement for the month of April 30, 2015. Prepare the statement of owner's equity for the month of April 30, 2015. Prepare the balance sheet at April 30, 2015. 13. Prepare journal entries to close the temporary accounts and then post to section 6.2. Post the journal entries to the ledger. 14. Prepare a post-closing trial balance. (Please prepare your trial balance in chart of accounts order given in the question.)